Looking for Better Paychecks? Look beyond Money

Every fresher dreams of a better package and a job that is financially-lucrative. Are there any tips that work for cracking jobs that offer better paychecks? Let’s find out

It is a tough world out there. The industry has been going through so many fluctuations in the last five years that the Dominoes have been toppling all the way to the world of freshers and first-timers too.

The demand for space-age skills has never been more pronounced. One cannot make do with the skills acquired earlier. By earlier, the industry means ‘Caveman’s age’ already. At the same time, the battle for a good job has picked up more heat than ever. With AI, machine learning, fintech, quantum computing, and blockchain injecting new paradigms in the world of technology, the jobs that are coming up today are quite fresh, fulfilling, challenging and exciting. And quite unlike the jobs that existed earlier.

But the good-old question remains. How to land just that great job with a good salary to accompany it? Especially when you are a fresher, when you are just starting out on this big road where experienced professionals already have a head-start.

The advantage YOU have It is a tough challenge but not an impossible one to conquer. Irrespective of how much the seniors know or earn, what ultimately matters in today’s world is who can bring the next-hot skill to the table. It is immaterial if one has years of experience in Accounting for instance, when new things like wealth management, accounting automation etc., take over the workplace dynamics.

The new landscape has brought forth both opportunities and gaps for those who can leverage them right. Since wealth is compounding at 12-14% per annum in India, there is a rise in the need for people to manage it. There are 2,500 plus established private bankers and 200 of them manage over Rs.1,000 crore, according to estimates by Vito India, a leading executive search firm. The opportunity is big from a long-term career perspective and compensation is more attractive due to lack of talent in wealth management. The story is the same with the rise in Mutual Funds. Post-demonetization, the mutual fund investments have increased by 196% between November 2016 and October 2017 giving rise to new fund houses, advisory services, and retail distributors.

When nearly 5 million people are expected to join the workforce every year, the unmet demand for these emerging roles is going to cross lines between different sectors and their various specialised roles. Nearly 9 lakh jobs are expected to be created in the BFSI sector in the next four years.

Your homework starts today So do this before pining over someone else’s take-home figures. Elevate your worth. Be the one that a company would love to pay extra for.

How do you do that? Start by doing thorough research on the opportunities that are coming up, and will pop up soon, in your subject of study. Align these new waves with your own goals, interest and passion areas. Now find out that specific job role that suits your skills, competencies, potential and special interests. Here, pedagogy similar to the Experiential Learning Technique of TKWsIBF will come in handy. You are encouraged to take up live projects in the Banking & Finance sector and learn on the job with a keen focus on areas of your interest. So never stop keeping yourself updated with the industry you want to be associated with.

The task of developing adequate skills, getting acquainted with job role and bringing more value to the table – is an enduring and endless one. That is why you would have to keep equipping yourself with courses, camps, internships that are apt for the relevant industries you want to be associated with.

Do your own research Choosing the topic of dissertation is very important. Don’t just go by what your other friends are doing. Do your own research and discover topics that are of keen interest to you. This will help you get more depth and inimitable confidence. The vast network of Alumni of TKWsIBF can help you identify companies who are interested in helping you pursue research or dissertation in your area of passion.

Polish it with soft skills To add to all this legwork, do not take soft skills too lightly. They are decisive; despite all this work on hard skills and competencies. Get trained in interview skills, so you can showcase your sector-specific knowledge when the table and the this-is-it moment comes. The LinkedIn report also stressed the growing importance of soft skills like relationship-building and customer-management. At TKWsIBF, students are trained specifically on interview skills and other soft skills that will help students make the most of their hard skills.

Always be a fresher, when it comes to learning Keep up-skilling yourself even if you get your dream job. The only way to get a good package and to keep it growing is by never going stale. Do not stop being a fresher when it comes to learning, excitement, energy, and passion. That way, you will never see an expiry date. You will always fetch the best price and hands.

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TKWs group and Pic Since 2002, TKWs group has been working on improving competencies through various courses and mediums. Institute of Banking & Finance was set up in the year 2010 with the vision of creating knowledge center of excellence for the banking sector. If you have any kind of questions please call or contact us.